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Russia: Manufacturing output contracts at fastest pace since March 2022 as new orders decline further and employment weakens amid fading business confidence (www.themoscowtimes.com)

submitted 7 hours ago by Sepia@mander.xyz to c/russia@sopuli.xyz

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Here is the entire report by S&P: Russia Manufacturing PMI (pdf)

TL;DR:

Russian manufacturing output in December decreased for the tenth month running, and at the fastest pace since March 2022 due to weak demand conditions and a reduction in new orders.
In line with lower new orders, Russian manufacturers cut their workforce numbers at the end of the year. Employment has fallen in three of the last four months.
Goods producers were less confident in the outlook for output over the coming year in December. The level of optimism dropped to the lowest since May 2022 amid concerns regarding subdued demand conditions.
December data signaled an increase in cost burdens at Russian manufacturers. The pace of inflation was the fastest since March as firms noted higher supplier and raw material prices. That said, the rate of increase was well below the series trend.

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[–] humanspiral@lemmy.ca -2 points 4 hours ago

This is coming off "overheated levels" last year, and only down 0.7% year over year. If Russophobia propaganda drives US colony happiness, peace in Ukraine with commitments by Russia to reduce military production would create a difficult economic transition in Russia with more opportunity for such headlines, and perhaps Germany and Japan having a chance to surpass it in PPP GDP rankings again.